Mid-Month Market Update October 15, 2019

The typical fall real estate cycle sees the number of active listings go down with sales following suit.  This year is no different with the number of active listings in central Alberta off by more than 200 (almost 7%) compared to the middle of September.  Sales compared to the middle of September are down almost 15%.  Typically, the percentage decrease in listings and sales should be similar, but we suspect many Albertans are waiting for election results before making the decision to buy.There is no clear leader in the election and the nature of the conversation around the energy industry has been very negative.  It appears there is potential for a federal government that is not friendly to the energy industry that is a major employer in Alberta and the source of much of Canada’s wealth.  No wonder some folks are awaiting the outcome of the election before making one of the biggest financial decisions of their life.  No matter what happens in the election, Canadians and the rest of the world will need oil and gas for many years and whichever federal government we end up with will know it.  We Albertans are used to difficult times and we will survive these.

Mid-Month Market Update October 15, 2019

The typical fall real estate cycle sees the number of active listings go down with sales following suit.  This year is no different with the number of active listings in central Alberta off by more than 200 (almost 7%) compared to the middle of September.  Sales compared to the middle of September are down almost 15%.  Typically, the percentage decrease in listings and sales should be similar, but we suspect many Albertans are waiting for election results before making the decision to buy.There is no clear leader in the election and the nature of the conversation around the energy industry has been very negative.  It appears there is potential for a federal government that is not friendly to the energy industry that is a major employer in Alberta and the source of much of Canada’s wealth.  No wonder some folks are awaiting the outcome of the election before making one of the biggest financial decisions of their life.  No matter what happens in the election, Canadians and the rest of the world will need oil and gas for many years and whichever federal government we end up with will know it.  We Albertans are used to difficult times and we will survive these.

Mid-Month Market Update October 15, 2019

The typical fall real estate cycle sees the number of active listings go down with sales following suit.  This year is no different with the number of active listings in central Alberta off by more than 200 (almost 7%) compared to the middle of September.  Sales compared to the middle of September are down almost 15%.  Typically, the percentage decrease in listings and sales should be similar, but we suspect many Albertans are waiting for election results before making the decision to buy.There is no clear leader in the election and the nature of the conversation around the energy industry has been very negative.  It appears there is potential for a federal government that is not friendly to the energy industry that is a major employer in Alberta and the source of much of Canada’s wealth.  No wonder some folks are awaiting the outcome of the election before making one of the biggest financial decisions of their life.  No matter what happens in the election, Canadians and the rest of the world will need oil and gas for many years and whichever federal government we end up with will know it.  We Albertans are used to difficult times and we will survive these.

Mid-Month Market Update October 15, 2019

The typical fall real estate cycle sees the number of active listings go down with sales following suit.  This year is no different with the number of active listings in central Alberta off by more than 200 (almost 7%) compared to the middle of September.  Sales compared to the middle of September are down almost 15%.  Typically, the percentage decrease in listings and sales should be similar, but we suspect many Albertans are waiting for election results before making the decision to buy.There is no clear leader in the election and the nature of the conversation around the energy industry has been very negative.  It appears there is potential for a federal government that is not friendly to the energy industry that is a major employer in Alberta and the source of much of Canada’s wealth.  No wonder some folks are awaiting the outcome of the election before making one of the biggest financial decisions of their life.  No matter what happens in the election, Canadians and the rest of the world will need oil and gas for many years and whichever federal government we end up with will know it.  We Albertans are used to difficult times and we will survive these.

Mid-Month Market Update October 15, 2019

The typical fall real estate cycle sees the number of active listings go down with sales following suit.  This year is no different with the number of active listings in central Alberta off by more than 200 (almost 7%) compared to the middle of September.  Sales compared to the middle of September are down almost 15%.  Typically, the percentage decrease in listings and sales should be similar, but we suspect many Albertans are waiting for election results before making the decision to buy.There is no clear leader in the election and the nature of the conversation around the energy industry has been very negative.  It appears there is potential for a federal government that is not friendly to the energy industry that is a major employer in Alberta and the source of much of Canada’s wealth.  No wonder some folks are awaiting the outcome of the election before making one of the biggest financial decisions of their life.  No matter what happens in the election, Canadians and the rest of the world will need oil and gas for many years and whichever federal government we end up with will know it.  We Albertans are used to difficult times and we will survive these.

Mid-Month Market Update October 15, 2019

The typical fall real estate cycle sees the number of active listings go down with sales following suit.  This year is no different with the number of active listings in central Alberta off by more than 200 (almost 7%) compared to the middle of September.  Sales compared to the middle of September are down almost 15%.  Typically, the percentage decrease in listings and sales should be similar, but we suspect many Albertans are waiting for election results before making the decision to buy.There is no clear leader in the election and the nature of the conversation around the energy industry has been very negative.  It appears there is potential for a federal government that is not friendly to the energy industry that is a major employer in Alberta and the source of much of Canada’s wealth.  No wonder some folks are awaiting the outcome of the election before making one of the biggest financial decisions of their life.  No matter what happens in the election, Canadians and the rest of the world will need oil and gas for many years and whichever federal government we end up with will know it.  We Albertans are used to difficult times and we will survive these.

Sylvan Lake Market Update – October 1, 2019

Residential sales in central Alberta in September were down slightly (7.65%) compared to August while year to date sales are down 14.65%.  Red Deer was a bit of a different story with sales in September up very slightly compared to August and year to date sales down by 4.7%.  The surprise in the Red Deer market comes on the active listing side where inventories dropped to 692 compared to the beginning of September when there were 748.

We have identified the current situation as our “new normal” in central Alberta for some time now.  Alberta history over the past 40 years has taught us that the market always recovers from a downturn with a vengeance and comes back stronger than ever.  Many homeowners are still working on that premise, but we have to ask ourselves what might happen to drive a recovery?

Previous recoveries have always been financed by energy.  Alberta’s ability to export our oil at world prices is being blocked on all fronts and it will likely be a long time before that changes, if ever.  We believe that Albertans are the most resilient, innovative and progressive people in Canada and we will eventually return to prosperity, but it will take longer than it has in the past.  In the meantime, we must learn to accept our current reality and move on.

Clearwater County Market Update – October 1, 2019

Residential sales in central Alberta in September were down slightly (7.65%) compared to August while year to date sales are down 14.65%.  Red Deer was a bit of a different story with sales in September up very slightly compared to August and year to date sales down by 4.7%.  The surprise in the Red Deer market comes on the active listing side where inventories dropped to 692 compared to the beginning of September when there were 748.

We have identified the current situation as our “new normal” in central Alberta for some time now.  Alberta history over the past 40 years has taught us that the market always recovers from a downturn with a vengeance and comes back stronger than ever.  Many homeowners are still working on that premise, but we have to ask ourselves what might happen to drive a recovery?

Previous recoveries have always been financed by energy.  Alberta’s ability to export our oil at world prices is being blocked on all fronts and it will likely be a long time before that changes, if ever.  We believe that Albertans are the most resilient, innovative and progressive people in Canada and we will eventually return to prosperity, but it will take longer than it has in the past.  In the meantime, we must learn to accept our current reality and move on.

Rocky Mountain House Market Update – October 1, 2019

Residential sales in central Alberta in September were down slightly (7.65%) compared to August while year to date sales are down 14.65%.  Red Deer was a bit of a different story with sales in September up very slightly compared to August and year to date sales down by 4.7%.  The surprise in the Red Deer market comes on the active listing side where inventories dropped to 692 compared to the beginning of September when there were 748.

We have identified the current situation as our “new normal” in central Alberta for some time now.  Alberta history over the past 40 years has taught us that the market always recovers from a downturn with a vengeance and comes back stronger than ever.  Many homeowners are still working on that premise, but we have to ask ourselves what might happen to drive a recovery?

Previous recoveries have always been financed by energy.  Alberta’s ability to export our oil at world prices is being blocked on all fronts and it will likely be a long time before that changes, if ever.  We believe that Albertans are the most resilient, innovative and progressive people in Canada and we will eventually return to prosperity, but it will take longer than it has in the past.  In the meantime, we must learn to accept our current reality and move on.

Red Deer Market Update – October 1, 2019

Residential sales in central Alberta in September were down slightly (7.65%) compared to August while year to date sales are down 14.65%.  Red Deer was a bit of a different story with sales in September up very slightly compared to August and year to date sales down by 4.7%.  The surprise in the Red Deer market comes on the active listing side where inventories dropped to 692 compared to the beginning of September when there were 748.

We have identified the current situation as our “new normal” in central Alberta for some time now.  Alberta history over the past 40 years has taught us that the market always recovers from a downturn with a vengeance and comes back stronger than ever.  Many homeowners are still working on that premise, but we have to ask ourselves what might happen to drive a recovery?

Previous recoveries have always been financed by energy.  Alberta’s ability to export our oil at world prices is being blocked on all fronts and it will likely be a long time before that changes, if ever.  We believe that Albertans are the most resilient, innovative and progressive people in Canada and we will eventually return to prosperity, but it will take longer than it has in the past.  In the meantime, we must learn to accept our current reality and move on.